ANNUAL FINANCIAL STATEMENTS 2020 of Heidelbergcement AG Heidelbergcement AG – Financial Highlights
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Report on the ANNUAL FINANCIAL STATEMENTS 2020 of HeidelbergCement AG HeidelbergCement AG – Financial highlights Figures in €m 2019 1) 2020 Number of employees as at 31 December 2,128 2,160 Revenue Cement 629 680 Rent / Services 177 192 Total revenue 806 872 Operating result 5 14 Profit / Loss of the financial year 35 -86 Dividend per share in € 0.60 2.20 2) Investments in intangible and tangible fixed assets 127 76 Amortisation and depreciation 35 48 Intangible and tangible fixed assets 674 701 Financial fixed assets 23,123 22,541 Current assets 3,094 3,253 Prepaid expenses 33 27 Net defined benefit asset 5 0 Equity 12,385 12,180 Provisions 655 800 Liabilities 13,889 13,543 Deferred income 0 0 Balance sheet total 26,929 26,522 1) Values were adjusted. 2) The Managing Board and Supervisory Board will propose to the Annual General Meeting on 6 May 2021 the distribution of a cash dividend of €2.20. HeidelbergCement AG | Annual financial statements 2020 Annual financial statements 2020 of HeidelbergCement AG Income statement 5 Balance sheet 6 Statement of changes in fixed assets 8 Notes 10 Notes to the income statement 10 Notes to the balance sheet 14 Other information 20 Proposal for the appropriation of the balance sheet profit 32 Independent auditor’s report 33 Responsibility statement 39 3 Income statement In accordance with section 315 (5) of the German Commercial Code (HGB), the management report of HeidelbergCement AG has been combined with that of HeidelbergCement Group, as the business trend, economic position, and future opportu- nities and risks of the parent company are closely linked with the Group on account of their common activity in the building materials business. The combined management report of HeidelbergCement Group and HeidelbergCement AG can be found in the Group’s Annual Report 2020. The list of shareholdings in accordance with section 285 no. 11 of the German Commercial Code (HGB) can also be found in the notes of the Group’s Annual Report 2020 The annual financial statements and the combined management report of HeidelbergCement AG and the Group for the 2020 financial year will be published in the Federal Gazette. Due to rounding, numbers presented in the annual financial statements may not add up precisely to the totals provided. 4 HeidelbergCement AG | Annual financial statements 2020 Income statement for the period from 1 January to 31 December2020 €’000s Notes 2019 1) 2020 Revenue 1 805,971 872,030 Change in finished goods and work in progress -773 -1,176 Own work capitalised 3,581 2,154 Total overall performance 808,779 873,008 Other operating income 2 38,060 14,725 Material costs 3 -275,868 -294,468 Employee and personnel costs 4 -241,341 -265,233 Amortization and depreciation of intangible assets and poperty, plant and equipment 5 -34,872 -48,398 Other operating expenses 6 -289,997 -265,653 Operating result 4,761 13,981 Result from investments1) 7 32,589 48,175 Income from long-term loans 65,705 47,501 Other interest and similar income 8 186,949 127,117 Income from currency translation 11 566,102 957,841 Write-ups on financial assets 69,563 0 Impairment on financial assets 9 -4,463 0 Interest and similar expenses 10 -295,468 -260,311 Expenses from currency translation 11 -573,793 -971,195 Taxes on income 12 -16,468 -48,062 Profit after tax 35,477 -84,953 Other taxes -937 -896 Profit / Loss of the financial year 34,540 -85,849 Profit brought forward 10,686 326,176 Withdrawals from other revenue reserves 400,000 200,000 Balance sheet profit 445,226 440,327 1) Values were adjusted (see Notes to income statement, 1 Revenue and 3 Material costs) 2) Thereof loss from profit and loss transfer agreement 517 (PY: 2,993) 5 Balance sheet Balance sheet as of 31 December 2020 Assets €’000s Notes 31 Dec. 2019 31 Dec. 2020 Fixed assets 13 Intangible assets 14 Acquired concessions, industrial property rights, similar rights and assets, and licences thereunder 32,885 30,531 Goodwill 1,295 1,151 Prepayments 3,203 3,789 37,383 35,471 Tangible fixed assets 14 Land, land rights and buildings 169,055 308,655 Plant and machinery 205,650 304,416 Other equipment, plant and office equipment 24,370 30,055 Prepayments and assets under construction 237,397 22,547 636,472 665,673 Financial fixed assets 15 Investments in subsidiaries 16 21,083,435 21,085,603 Loans to subsidiaries 17 1,690,489 1,106,095 Investments in participations 18 347,483 347,763 Loans to participations 19 1,436 1,386 Other loans 20 0 0 23,122,843 22,540,847 23,796,698 23,241,991 Current assets Inventories 21 Raw materials and consumables 26,739 30,076 Work in progress 21,238 20,610 Finished goods and goods for resale 13,592 13,029 Prepayments 115 100 Emission rights 22,555 26,041 84,239 89,856 Receivables and other assets 22 Trade receivables 8,200 6,927 Receivables from subsidiaries 1,240,227 1,892,333 Receivables from other participations 7,463 2,421 Other assets 78,810 29,493 1,334,700 1,931,174 Cash and cash equivalents 23 1,675,071 1,232,080 3,094,010 3,253,110 Prepaid expenses 24 33,032 27,385 Net defined benefit asset 25 4,792 0 Balance sheet total 26,928,532 26,522,486 6 HeidelbergCement AG | Annual financial statements 2020 Equity and Liabilities €’000s Notes 31 Dec. 2019 31 Dec. 2020 Equity Subscribed share capital 26 595,249 595,249 Share premium 27 6,143,943 6,143,943 Other revenue reserves 28 5,200,000 5,000,000 Balance sheet profit 445,226 440,327 12,384,418 12,179,519 Provisions Provisions for pensions 29 306,401 311,022 Tax provisions 30 192,236 264,212 Other provisions 31 156,120 224,279 654,757 799,513 Liabilities 32 Bonds payable 2,750,000 2,750,000 Bank loans 744,880 733,272 Trade payables 88,865 70,712 Liabilities to subsidiaries 10,272,347 9,902,059 Liabilities to other participations 1,443 2,466 Other liabilities 31,367 84,751 13,888,902 13,543,260 Deferred income 33 455 194 Balance sheet total 26,928,532 26,522,486 7 Statement of changes in fixed assets Statement of changes in fixed assets / Notes for the 2020 financial year Statement of changes in fixed assets Acquisition and production cost Accumulated drepreciation and impairment Carrying amount €’000s 1 Jan. 2020 Additons Disposals Transfer 31 Dec. 2020 1 Jan. 2020 Additons Disposals Transfer 31 Dec. 2020 31 Dec. 2020 31 Dec. 2019 Intangible assets Concessions, trademarks and similar rights and assets 103,157 2,251 632 9,247 114,023 70,272 13,851 631 0 83,492 30,531 32,885 Goodwill 70,251 0 0 0 70,251 68,956 144 0 0 69,100 1,151 1,295 Prepayments 3,203 3,707 0 -3,121 3,789 0 0 0 0 0 3,789 3,203 176,611 5,958 632 6,126 188,063 139,228 13,995 631 0 152,592 35,471 37,383 Tangible fixed assets Land, land rights and buildings 649,587 25,870 425 125,360 800,392 480,532 11,566 361 0 491,737 308,655 169,055 Plant and machinery 767,085 18,527 3,049 94,508 877,071 561,435 14,261 3,045 4 572,655 304,416 205,650 Other equipment, furniture and fixtures 118,566 12,299 5,937 2,172 127,100 94,196 8,576 5,723 -4 97,045 30,055 24,370 Prepayments and assets under construction 237,397 13,316 -228,166 22,547 0 0 0 0 0 22,547 237,397 1,772,635 70,012 9,411 -6,126 1,827,110 1,136,163 34,403 9,129 0 1,161,437 665,673 636,472 Financial fixed assets Shares in affiliated companies 21,085,526 2,168 0 0 21,087,694 2,091 0 0 0 2,091 21,085,603 21,083,435 Loans to subsidiaries 1,694,445 153,172 737,566 0 1,110,051 3,956 0 0 0 3,956 1,106,095 1,690,489 Investments in participations 349,996 280 0 0 350,276 2,513 0 0 0 2,513 347,763 347,483 Loans to participations 1,436 0 50 0 1,386 0 0 0 0 0 1,386 1,436 Other loans 3,376 0 0 0 3,376 3,376 0 0 0 3,376 0 0 23,134,779 155,620 737,616 0 22,552,783 11,936 0 0 0 11,936 22,540,847 23,122,843 Fixed assets 25,084,025 231,590 747,659 0 24,567,956 1,287,327 48,398 9,760 0 1,325,965 23,241,991 23,796,698 8 HeidelbergCement AG | Annual financial statements 2020 Statement of changes in fixed assets / Notes for the 2020 financial year Statement of changes in fixed assets Acquisition and production cost Accumulated drepreciation and impairment Carrying amount €’000s 1 Jan. 2020 Additons Disposals Transfer 31 Dec. 2020 1 Jan. 2020 Additons Disposals Transfer 31 Dec. 2020 31 Dec. 2020 31 Dec. 2019 Intangible assets Concessions, trademarks and similar rights and assets 103,157 2,251 632 9,247 114,023 70,272 13,851 631 0 83,492 30,531 32,885 Goodwill 70,251 0 0 0 70,251 68,956 144 0 0 69,100 1,151 1,295 Prepayments 3,203 3,707 0 -3,121 3,789 0 0 0 0 0 3,789 3,203 176,611 5,958 632 6,126 188,063 139,228 13,995 631 0 152,592 35,471 37,383 Tangible fixed assets Land, land rights and buildings 649,587 25,870 425 125,360 800,392 480,532 11,566 361 0 491,737 308,655 169,055 Plant and machinery 767,085 18,527 3,049 94,508 877,071 561,435 14,261 3,045 4 572,655 304,416 205,650 Other equipment, furniture and fixtures 118,566 12,299 5,937 2,172 127,100 94,196 8,576 5,723 -4 97,045 30,055 24,370 Prepayments and assets under construction 237,397 13,316 -228,166 22,547 0 0 0 0 0 22,547 237,397 1,772,635 70,012 9,411 -6,126 1,827,110 1,136,163 34,403 9,129 0 1,161,437 665,673 636,472 Financial fixed assets Shares in affiliated companies 21,085,526 2,168 0 0 21,087,694 2,091 0 0 0 2,091 21,085,603 21,083,435 Loans to subsidiaries 1,694,445 153,172 737,566 0 1,110,051 3,956 0 0 0 3,956 1,106,095 1,690,489 Investments in participations 349,996 280 0 0 350,276 2,513 0 0 0 2,513 347,763 347,483 Loans to participations 1,436 0 50 0 1,386 0 0 0 0 0 1,386 1,436 Other loans 3,376 0 0 0 3,376 3,376 0 0 0 3,376 0 0 23,134,779 155,620 737,616 0 22,552,783 11,936 0 0 0 11,936 22,540,847 23,122,843 Fixed assets 25,084,025 231,590 747,659 0 24,567,956 1,287,327 48,398 9,760 0 1,325,965 23,241,991 23,796,698 9 Notes for the 2020 financial year Notes for the 2020 financial year HeidelbergCement AG has its registered office in Heidelberg, Germany.